Wolfe Wave
Wolfe Waves Example!This is not a forecast or a signal! it's just an example of an occasion which a pattern like Wolfe Waves worked well !
This chart has almost followed the rules of Wolfe waves , unless the first point is not exactly on the right place!
1st point: Start of the wave
2nd: First top of the channel
3rd: First low of the channel
4th: Second high of the channel regarding thee pivots!
the next 2 pivots are useless since they are not a place to be considered as a Wolfe waves' points!
5th point: as it should be broke to channel!
Open Trade: OT is breaking back to channel!
Stop Loss: SL is just below the 5th point in long option and reverse of it, in short trades!
I personally distinguish the pattern so late! but the Wolfe waves is a great way to find very profitable trades which is not so trending in these days
TSLA - Two opposite forcesYo!
So yesterday I noticed another hidden bearish divergence, but still I think there a chance for the Wolfe wave to complete.
At the moment I'm on the fence because the risk reward is not worth it..
To take a decision ill need to see what happens when market opens..
OR the market breaks through the pitchfork OR the divergence will get in play..
At the moment I tend to think the divergence will get in play because tesla stock have a lot successful divergences..
SO.. today I'm Neutral.
Have a nice trade day and a good weekend!
t347.
TSLA - Hidden bearish Divergence to a possible wolfe wave Yo!
The green and red boxes shows my targets ranges.. Im overall bullish.
Even if the wolfe wave failes this targets also found with Fib! ( so for me its two tools gave me same targets.. )
*The lower red box is just an extrem possible target.. ( no panic please :)
Have a good trading day!
t347.
TSLA - possible bullish divergence if fails potential wolfe waveHello,
I'm new to technical analysis and wanted to share my view!
Yellow - Divergence - IF divergence fail possible merge into wolfe wave
White - wolfe wave (+blue)
boxes - target prices ranges
Constructive criticism are welcomed!
(sorry for my English not my main language).
I hope it's not to much for the eye.. I didn't want to delete the other patterns..
thank you.
NASDAQ:TSLA
start correction after complete impulsive pattern For Bitcoin, I anticipate the start of a correction in the daily timeframe, after completing the impulsive pattern.
At the end of the impulsive pattern ,an ending diagonal appears to be forming.
(From the point of view of classical analysis, this pattern can be considered a Wolfe wave)
However, I expect the correction to continue until the fourth wave level.